Why Signet Jewelers Stock Popped Today
Shares of Signet Jewelers (NYSE: SIG) climbed 7.8% on Thursday after the diamond-jewelry retailer announced better-than-expected quarterly results and forward guidance.
More specifically, in Signet's fiscal 2020 third quarter (ended November 2, 2019), revenue declined 0.3% year over year, to $1.188 billion, as 2.1% same-store sales growth was more than offset by the impact of closed locations. On the bottom line, that translated to a non-GAAP (adjusted) net loss of $43.7 million, or $0.76 per share, narrowed from an adjusted net loss of $1.06 per share in the same year-ago period.
Analysts, on average, were expecting a much wider loss of $1.08 per share on revenue of $1.14 billion.
Source Fool.com
